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Page 1: THE ONLY GRADUATE CAREER GUIDE TO Insurance · COMMERCIAL INSURANCE Commercial insurance lets business owners run their company after unexpected events like natural disasters or cyber

InsuranceTHE ONLY GRADUATE CAREER GUIDE TO

8th EditionContents

The professionFinding the right job

Internship profilesGraduate profiles

Senior profilesThe CII & qualifications

Featured employers

Insurance: enabling innovation, delivering social value

– Chartered Insurance Institute

IN PARTNERSHIP WITH

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GRADUATE JOBS | INTERNSHIPS & PLACEMENTS | ADVICEwww.insidecareers.co.uk

Find your dream Insurance role online today.

100s Jobs

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JOB SEARCH

EMPLOYER DIRECTORY

EMAILALERTS

EVENTSCALENDAR

DEADLINES CALENDAR

VIDEOS, BLOGS, NEWS

Visit www.insidecareers.co.uk/ins for:

JOB SEARCH

EMPLOYER DIRECTORY

EMAILALERTS

EVENTSCALENDAR

DEADLINES CALENDAR

VIDEOS, BLOGS, NEWS

Caspar Bartington, Relationship Manager for Education, CII

‘Insurance: enabling innovation, delivering social value.’

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GRADUATE PROFILES

Aviation Reinsurance Broker – Aon 32Graduate Trainee Financial Planner – Mazars 34Graduate Trainee – Liberty Speciality Markets 36Graduate Underwriting Assistant – Markel International 38Direct Commercial Underwriter – Hiscox 40

SENIOR PROFILES

Large Loss Manager – NFU Mutual 42Project Risks & UK Construction Practice Leader – Willis Towers Watson 44

THE CII & QUALIFICATIONS

About the Chartered Insurance Institute (CII) 48CII Professional Qualifications 50

CONTENTS

THE PROFESSION

What is Insurance? 08Why Work in Insurance? 10Areas of Work 12Salaries & Benefits 15Insurance: Breaking the Stereotype 16

INTERNSHIP PROFILES

Finance Intern – Allianz 28Actuarial Analyst – RSA 30

Introduction from the CII 05

FINDING THE RIGHT JOB

Five Key Insurance Skills 18Choosing the Right Employer 20Internships & Work Experience 22Applications & Interview Advice 24

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INTRODUCTION FROM THE CII

In the eyes of consumers, insurance is something that relates to cars, holidays, houses and pets. There is also a huge business-to-business insurance sector that passes unnoticed by most people, which plays a crucial role in helping the world’s businesses to exist and thrive. Insurance also means that you can go travelling or go to festivals.

Here are three examples of insurance this year:

Cyber crime has become the crime of choice for those who don’t want to get their hands dirty. It’s nearly invisible and evokes a less visceral reaction than a physical assault. It also costs the global economy more than $500 billion a year – with that number set to increase. Many insurance companies now have special cyber risk teams who can write policies that protect clients and reduce the risk of a breach taking place, and which can also deal with the reputational damage caused by a loss of data.

Climate change is wreaking havoc with an increasing number of countries and to a more devastating extent than before. This is not just about catastrophic events such as droughts, hurricanes or earthquakes, it relates

to floods too. In 2016, the insurance sector launched Flood Re, a specialist not-for-profit reinsurance company which helps people living in flood-prone areas to buy insurance. It is the first such reinsurer in the world and is a rather good way of demonstrating the social value of insurance.

Driverless cars have already hit the streets (no pun intended) in Singapore and London on a limited scale. Given that 90% of road traffic accidents are caused by human error, this means that traditional motor insurance policies will have to change. The future risks may relate to a car being hacked rather than badly driven.

So, insurance is not necessarily what you think it is. If you want to know more, the CII is a good place to start – it’s the world’s largest professional body for the insurance sector. Our globally-recognised professional qualifications and free Discover membership make it easy for UK-based university students to build their knowledge and networks.

Caspar Bartington is the CII’s Relationship Manager for Education. A graduate of the University of London, Caspar has worked in the UK, Africa and Asia in business development and marketing.

The newsfeed on your phone or TV is showing you a world that feels pretty risky. Sadly, risk never goes away, which is why insurance is such an important product. Insurance lets you get on with life without worrying at every turn. It also enables innovation (there would be no product development without insurance) and helps people and communities recover from damaging events. Its social value is one reason why so many people work in the sector for so long.

FEATURED EMPLOYERS

Aon 52AXA 54Canada Life Limited 55NFU Mutual 57RSA 58Willis Towers Watson 60Zurich 62

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Five Key Insurance Skills 18

Choosing the Right Employer 20

Internships & Work Experience 22

Application & Interview Advice 24

FINDING THE RIGHT JOB

What is Insurance? 08

Why Work in Insurance? 10

Areas of Work 12

Salaries & Benefits 15

Insurance: Breaking the Stereotype 16

THE PROFESSION

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WHAT IS INSURANCE?

WHAT IS INSURANCE?

Insurance is a service that helps people and businesses in times of need. It is a global, complex, multi-trillion dollar sector that supports innovation as well as delivering enormous social value. It’s sometimes a legal requirement too – but how does it actually work?

Risk is all around us and comes in many forms. It could be your car getting damaged, or your phone being stolen. For a celebrity, it could be a career-ending injury, or reputational damage. For a business, it could be a cyber attack or exposure to a terrorist incident. When something goes wrong, most people don’t have the money to pay for major repairs themselves, or to settle costly medical bills. That’s where insurance comes in. It removes financial uncertainty by shifting the risk and consequences of a possible loss to the insurance company.

When companies develop new products, there is an element of risk in doing so. By having insurance policies in place, these businesses can continue to innovate, knowing that product failures in the design phase will not cause serious financial damage.

The insurance you know about PERSONAL INSURANCEInsurers cover you and your property at a fraction of its value by pooling risk. They group together large numbers of people who all face a similar risk then collect a small amount of money from all of them – the premium. If any of those people need to make a claim, there is a pot of money to help them. There are always more people paying in than claiming so insurance companies can offer relatively low prices to everyone who pays into the pool, while everyone in the pool knows they are covered if they ever need help.

Not everyone will pay the same for their insurance. A driver in their 50s with over 30 years’ safe driving experience is a lower risk than a young person who has just passed their test. This is reflected in the cost of premiums. It’s only fair that those most likely to make a claim pay the most into the pot. In this way insurers can decide a fair price for people based on their individual circumstances. If you’re looking to reduce your car insurance premium,

take a look at telematics – a black box which records your (hopefully safe) driving habits.

COMMERCIAL INSURANCECommercial insurance lets business owners run their company after unexpected events like natural disasters or cyber attacks. Policies allow businesspeople to protect property, equipment, stock, employees and the general public, who might suffer injury or damage as a result of commercial activities.

There are various types of commercial insurance including:• Public, employers’ and product liability

insurance – pays compensation when someone or something has been held liable for an adverse event such as an industrial injury.

• Professional indemnity insurance – to protect against claims of negligence in business, for example doctors, lawyers or other professionals.

• Business interruption – to enable commercial enterprises to protect their income when they are unable to trade, perhaps due to arson or a major weather event.

Emerging risks mean that policies are regularly changing. Recent developments have included protection for companies against the effects of global climate change, terrorist attacks and pandemics.

The insurance you don’t know about SPECIAL RISKS – THE LONDON MARKET Special risks exist in the London insurance market and, more specifically, the Lloyd’s of London marketplace. These are the policies that are a world away from standard personal or commercial ones. For example, a singer can insure their vocal chords or a guitar player can insure their fingers – in other words, the part

of their body which helps them earn money. These policies will pay out millions of pounds depending on the lost earning potential.

At the extreme end of special risks are the policies taken out by tens of thousands of people against kidnap or abduction, whether by militants in a dangerous part of the world, or by aliens.

Special risks can emerge from any part of the world but tend to come to London due to the high levels of expertise and experience of the unusual. Technical roles in insurance It’s worth remembering that the sector has a huge range of jobs, many of which you can find in every sector – HR, marketing, sales and so on. However, there are some essential technical roles particular to insurance, more of which below:

UNDERWRITING Underwriting is the process of assessing a client to determine whether or not their risks are worth covering, and at what cost and terms. Underwriters work in insurance companies and often negotiate terms with a broker. BROKING A broker is an intermediary who searches the insurance market on behalf of a client to find the best policy at the best terms. The broker also offers risk management services for clients to help them mitigate risks. If face to face, the broker will negotiate with the underwriter.

CLAIMS The claims team is the first port of call for a customer when something goes wrong. Due to the contract-focused nature of claims, it is a role that law graduates take to quickly, but it is open to anyone with good client skills and excellent attention to detail.

LOSS ADJUSTINGLoss adjusters visit the scene of an event, be it a flood zone or a burnt-out warehouse. Their role is to work with the authorities and clients to understand the situation, where responsibility lies and to arrange for client compensation where possible. Flexibility is the key for this role, as loss adjusters react to situations that can occur anywhere in the country or beyond.

REINSURANCEReinsurance companies take on part of the risk that insurers assume from their clients. They can do this by sharing the losses among several carriers in the event of a claim. For this service, the reinsurer is paid a share of the insurance premium in accordance with its level of participation in the risks.

Because of the scale involved, reinsurance companies need to be skilled at looking into the future, to identify new types of risks early.

Want to know more about the technical roles? Want to understand more about the social value of insurance? Email [email protected] and as a Discover member we’ll put you in touch with our sector professionals.

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The big picture Insurance has a global reach and not only underpins our own individual security but also enables big businesses to operate more freely. Let’s put it another way – without insurance, you couldn’t study at university or go on your summer holiday, you couldn’t go out for dinner (or order in a pizza) or see your favourite band play live.

If you join the UK insurance profession, you are joining one of the most influential and important parts of the UK economy. The sector employs more than 300,000 people in the UK alone and the City of London is the heart of international insurance and reinsurance. Insurance contributes nearly £12 billion in taxes and has more than £1.5 trillion of invested assets.* Client-facing or back-office? Insurance is not just a client-facing sector, although there are many brokers, underwriters and loss adjusters helping to write business and deal with the impact of a major event on businesses, face to face.

There are also many back-office roles in risk modelling, claims and business analysis, plus actuarial and data science, for those who prefer scrutinising data-driven situations and helping their client-facing colleagues to make the right decisions for the business.

One important point to keep in mind is that the role you do at the start of your career does not have to define the rest of it. For example, people may start in a claims role but then move to underwriting, or loss adjusting, or a business analyst or support role. In effect, it is easy to have several careers in the insurance sector.

Graduates from any degree discipline can work in the profession as you will learn the specialist skills on your graduate scheme and beyond.

Companies are looking for people with the right set of skills, rather than a particular set of knowledge. That makes for a diverse and stimulating sector where historians, linguists and engineers can be team members. Strong earnings potential You probably want to be earning a good salary, not just at the beginning of your career but throughout it. Starting salaries on graduate schemes can be up to £30,000 per annum, depending on the company size and location. Once you have completed your professional qualifications and shone in your roles, you can aim to double your salary, as well as have the tools to travel to other markets.

Those at the top of the insurance profession earn a six-figure salary. Some professionals will also have an entrepreneurial spirit and will establish their own specialist, insurtech businesses. For these people a seven-figure salary can be achievable; for others, the motivation is to offer clients social value. Social value Insurance is the part of the wider finance sector that offers tremendous social value. Look no further than the launch of Flood Re, the world’s first not-for-profit reinsurance company which allows those living in flood-prone areas to gain access to insurance. Microinsurance companies in the developing world have also given security to businesses where they never previously had it.

WHY WORK IN INSURANCE?

WHY WORK IN INSURANCE?

Do you want to be involved in the key issues facing the world today: climate change, cyber crime, political risk, the cost of supporting an ageing population? Insurance understands and helps to manage all of these issues and so many more. We manage risks that range from driverless cars and smart houses to Crossrail and oil rigs, from rockets to sportspeople.

If you join the UK insurance profession, you are joining one of the most influential and important parts of the UK economy.

Beyond these examples, insurance has always been about risk transfer and supporting those in their time of need.

Professional qualifications Your studies don’t end at university. Like any profession, there is more work to do in order to become an insurance professional. The majority of graduate schemes in the sector will include the CII Advanced Diploma in Insurance (ACII). This is a globally-recognised professional qualification that demonstrates your technical capability to your clients and peers. It will take around three years to complete. If you are graduating in a business, finance or law-related area, you are likely to be eligible for credits in to the CII qualifications framework. These credits may well shave six months off the time taken to get your ACII.

Global dimensions Looking for a role that gives you a route to international travel and relocating to another country? Look no further than insurance. There

are many large companies in the insurance sector, with multiple global offices that are looking for highly-skilled, capable graduates. If you want to move from the UK to Australia, Asia, the Middle East, Europe, Africa or the Americas, insurance is full of opportunities to do just this.

Big or small? Some of the biggest companies in the world are insurance companies. Within the top 100 of the global Fortune 500 you will find AXA, Allianz, Munich Re and many other insurance companies. Conversely, there are thousands of small to medium-sized enterprises (SMEs) across the UK. So there’s something to suit everyone.

Insurance offers hard-working graduates a challenging, long-term career. It offers the opportunity to achieve valuable and globally-recognised professional qualifications and play an influential role in one of the UK’s most significant professions.

*Source: Association of British Insurers, 2016

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Actuaries. Graduate training schemes are the usual way to enter the profession, which you apply for directly with insurance employers. Your employer will then provide on-the-job training, as well as allowing you study days and sponsoring you through your actuarial exams.

Loss adjuster Loss adjusters operate independently of insurance companies. Their aim is to mitigate loss and get businesses back up and running with the minimum amount of disruption. They look into the circumstances surrounding a claim – establishing the cause of a fire, for example – before negotiating a fair sum to replace the loss or repair the damage.

Having checked the authenticity of the claim and negotiated an acceptable amount, loss adjusters will report the facts to the insurers and make recommendations for interim and final payments. Although they cannot commit the insurers to payment, or determine the actual amount paid, they are deemed to be fair and impartial. Most insurance companies maintain a panel of loss adjuster firms.

ROUTES IN Some larger firms run structured training schemes that will give you a broad-based introduction to the profession, while smaller firms will hire on a case-by-case basis, often focusing on people with experience of the profession and particularly claims management. Loss adjusters will expect you

to spend your early months with the firm doing desk-based work, validating claims and liaising with insurance companies and policyholders. This is essential grounding in the mechanics of the profession and claims work and will prepare you for your first visits to claims scenes.

Claims manager A claims manager receives, assesses and manages the claims made by policyholders on their insurance policy. They assess whether or not a claim is valid, whether or not it is fraudulent, then organise any action that’s needed, such as a payment being made to the claimant. Claims managers may get involved in loss adjusting.

ROUTES IN Claims professionals can work directly for insurance companies, a dedicated claims management company or the claims team of an insurance broker. Some larger insurance companies include claims work as part of general graduate management training schemes. Graduate recruits usually undergo two years of intense on-the-job training. This is generally structured and supported by formal training courses, often in-house, and is likely to be followed by a further 2-3 years’ experience in underwriting risk and negotiating claims.

Insurance broker Brokers work independently to arrange deals between clients and insurers. They advise clients on the most appropriate policies for them.

Personal insurance brokers generally deal directly with individual clients or companies and arrange policies for home, motor, travel or pet insurance, while commercial insurance brokers deal with more high-value insurance for areas such as the marine, aviation, energy and finance sectors.

ROUTES IN Numerically-related or business degrees can be an advantage, but aren’t a requirement for entry to the profession. Training programmes vary considerably, with larger broking firms offering more opportunities for structured

AREAS OF WORK

AREAS OF WORK

Risk and insurance offer graduates a range of entry points to this fascinating profession. Read on to find out about the wide variety of roles to choose from and the best way to secure your place.

Some larger firms run structured training schemes that will give you a broad-based introduction to the profession, while smaller firms will hire on a case-by-case basis.

UnderwriterUnderwriters issue insurance policies – they decide which policies an insurance company should offer to potential clients, and calculate the premiums (the amount charged for insurance coverage). In order to do this, underwriters obtain detailed information from prospective policy holders and assess the risks, likelihood and potential cost of a claim.

ROUTES IN Graduate training schemes for underwriters typically last around two years and are often followed by another two or three years’ training in a specialist area of risk.

Degrees in business and management, mathematics, law or economics are an advantage, but it is possible to enter the profession from any discipline. Most training tends to be on-the-job, working alongside experienced colleagues and learning about different departments and about accounting, claims and investment functions.

Actuary Actuaries calculate the probability of different outcomes and their potential financial impact. They analyse data to help plan for the future and minimise risk. Insurance can involve actuaries in:• Calculating insurance premiums• Advising on pension plans• Managing financial assets and liabilities.

An actuary’s traditional areas of work include pensions, life and general insurance, investment and consultancy.

ROUTES IN An actuarial degree is not a requirement to enter the profession. However it is necessary to have an A level or equivalent in maths, as well as a mathematically-related degree, such as maths, statistics, economics, science or engineering.

To become a professional actuary, you will need to pass the exams and qualify as a Fellow of the Institute and Faculty of

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training programmes. These typically involve job rotations for experience of different areas of work, over a period of 18 months to two years.

There has been a growing emphasis in recent years on graduate-level recruitment and the development of graduate training programmes that include CII professional qualifications. This provides a structured framework leading to Chartered Insurance Broker status. Many employers grant study time and provide help with tuition fees and the cost of learning materials.

Catastrophe modeller Catastrophe modellers use complex IT models to estimate losses from natural hazards and terrorism in particular. They often work with underwriters in an insurance company to ensure that probable losses are kept within specified limits.

ROUTES IN Unlike the majority of roles in insurance, those wanting to get into catastrophe modelling are likely to have a specific degree in geography, maths or statistics.

There are very few graduate schemes with a catastrophe modelling specialism (Willis Towers Watson is the only major player with one). Most people who work in the area started either in a direct entry role or have transferred from a role such as Underwriting Assistant.

Risk manager Risk managers help to assess potential risks

and advise on how to avoid or reduce those risks. They can be involved in identifying, evaluating and reporting risks to various parties, including underwriters, loss adjusters and business heads, to ensure they’re aware of risks relevant to their function.

Risk managers ensure that effective frameworks are put in place to deal with risk and ensure compliance with legal requirements.

ROUTES IN Degrees in risk management, economics, business, law, insurance or management can be helpful, but no specific degree is required.

It is possible to enter the profession as a trainee risk analyst at a brokerage, but risk management most often attracts mature entrants, as those with commercial and/or insurance sector experience are preferred. Some companies ask for as much as five years of underwriting experience.

Unlike the majority of roles in insurance, those wanting to get into catastrophe modelling are likely to have a specific degree in geography, maths or statistics.

AREAS OF WORK

Careers in the UK and Global insurance market offer a wide range of dynamic and well-rewarded opportunities in diverse businesses. These offer structured career paths, sector-relevant professional qualifications (ACII, AIRM, ICA) and global exposure at every stage.

SALARIES & BENEFITS

*Individuals could earn 2-3 times this value in bonuses and long term incentives as part of their package.Source: For more salary data within the insurance industry please visit ipsgroup.co.uk/salaryguide

Rotational graduate schemes are offered by Lloyd’s syndicates, global insurance brokers, large composite insurers and the Corporation of Lloyd’s (with market-based placements). Typically these schemes offer a starting salary of £28,000-£30,000 with excellent study support packages and additional benefits. Many businesses in the last couple of years have also started to run apprenticeship schemes, which include not only school leavers but those completing part-time degrees alongside their work experience.

SalariesWhile remuneration packages don’t often reach the heights of those on offer in banking, they remain very competitive when measured against others in financial services and opportunities for advancement are more readily available for talented graduates who show commitment and drive. For new graduates building careers, insurance remains one of the best industries in terms of balance of work commitments and life experiences. It offers remote working opportunities and you are not expected to fulfil the long hours the banking industry often seeks.

BenefitsExcellent benefits are usually on offer as part of the remuneration package. Typically, study support, private healthcare and pension schemes, season ticket loans and often a host of social and lifestyle benefits. Make sure you consider these alongside the advertised salary.

Where are the jobs?New syndicates continue to be established and many of these new players, along with some existing insurers, are developing new insurance products, expanding into new global territories and offering scope for entrepreneurial graduates to grow their careers within these newly established teams.

Recent advancements in technology are streamlining operations and allowing the industry to work at a faster pace, in a more dynamic and innovative manner.

Alison Taylor, MIRP, is a Divisional Director and shareholder of IPS Group. You can contact Alison for a confidential discussion at [email protected]

EARNING POTENTIAL FOR TALENTED GRADUATES IN INSURANCE

Business Function Graduate Entry (not grad scheme) 1-3 Years 4-6 Years 7-10 Years Career

Potential*

Underwriting £24,000 - £28,000 £40,000 £90,000 £180,000 £240,000

Claims £24,000 - £26,000 £38,000 £65,000 £120,000 £175,000

Broking £22,000 - £28,000 £40,000 £85,000 £120,000 £220,000

Delegated Authority Management £24,000 - £28,000 £45,000 £75,000 £120,000 £200,000

Operations £22,000 - £26,000 £40,000 £75,000 £120,000 £255,000

Risk & Governance £22,000 - £26,000 £45,000 £65,000 £100,000 £200,000

Compliance £24,000 - £30,000 £45,000 £65,000 £100,000 £200,000

Audit £20,000 - £30,000 £40,000 £60,000 £80,000 £130,000

Finance £20,000 - £30,000 £38,000 £90,000 £205,000 £310,000

Actuarial £30,000 - £35,000 £48,000 £120,000 £175,000 £250,000

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INSURANCE: BREAKING THE STEREOTYPE

INSURANCE: BREAKING THE STEREOTYPE

Insurance: enabling innovation, delivering social value. Everyone has some kind of insurance. Likewise, there is an insurance career for everyone too.

Insurance is absolutely about helping people and businesses recover when things go wrong. Insurance is also an enabler. Without insurance, there would be no innovation.

Yes, there are a few roles that require strong mathematical and statistical skills but the vast majority of client-facing and back-office careers are open to all graduates. You will learn all the technical aspects on-the-job, having been recruited for who you are.

If you want to apply some of the knowledge gained from your degree in our sector, you can – geographers can bring their skills to

catastrophe modelling; Law graduates find their knowledge useful in the claims function, where contracts play a major role. Engineering, sports science and fine art are just three more areas where you can apply what you have learned. After all, insurance related to those areas requires an understanding of the risks associated with the ‘product’.

A varied, progressive careerIt’s easy to think that your first job shapes the rest of your career. This is not true in the insurance profession. Many people enjoy a portfolio career, even in one business. For example, you may join a graduate scheme in the claims function. This could take you in several directions – further into claims; or loss adjusting; or compliance; or into a linked field like underwriting; or into project management; or marketing. The opportunities are many!

Careers in insurance can meet your wider aspirations – so, if you want to work in a Fortune 500 business, apply for the large companies like AXA, Allianz and Zurich. These are companies with hundreds of billions of dollars of assets. If you would prefer to work in a small business, take a look at the thousands of local and regional brokers around the country – or the growing number of insurtech start-ups in the London area.

Global travel opportunities Do you have international travel on your wish list? Research the insurance profession – many companies have offices around the world and a desire to retain and develop staff. Sometimes an international experience may be one week; for you it could be five years.

Making a differenceSome people are reticent about working in the finance sector because there is a perception that there is no social value. Think again. Insurance is absolutely about helping people and businesses recover when things go wrong. Insurance is also an enabler. Without insurance, there would be no innovation. No insurance, no SpaceX. No insurance, no social media. No microinsurance, no way to grow a smallholding. The list really is endless. It feels good to be part of that profession.

Diverse and inclusive Insurance is embracing diversity and inclusion across the country. Looking at gender, it’s worth knowing that the CII has a female CEO, Lloyd’s of London has a female CEO and AXA has a female Group CEO for the UK. There is a growing LGBT community and Aviva’s Global Inclusion Director is also chair of Stonewall. Lloyd’s of London runs its Dive-In festival each year.

There’s never been a better time to be part of this profession, which touches and affects all of the important global issues. So, whether you’re an introvert or an extravert, there is a role for you in this successful, global sector.

Caspar Bartington is the CII’s Relationship Manager for Education. A graduate of the University of London, Caspar has worked in the UK, Africa and Asia in business development and marketing.

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FIVE KEY INSURANCE SKILLS

FIVE KEY INSURANCE SKILLS

What are insurance employers looking for from graduates? Employers are looking for graduates who are committed and extremely professional in their practice. Soft skills are exceptionally important and employers will look for new entrants who have good communication, negotiation, problem solving and lateral thinking skills. When evaluating a client’s claim or calculating the cost for a policy, insurance professionals must exercise comprehensive analytical skills too.

Customer service and client relationship skills are equally important, as are good numerate abilities. The insurance sector is always looking for bright graduates, with a logical, methodical

approach and the potential to understand the vital elements of risk. There are so many different classes of business and so many different types of jobs that graduates can be sure to find an area of interest.

Possessing a good understanding of the insurance sector is an advantage – the CII’s free Discover membership scheme can help with this. There will be some jobs that require an applicant to have an understanding of the technical knowledge needed to do the job, but don’t worry if you feel this is not something that you can offer – most employers are willing to support an entrant through training and gaining professional qualifications.

3. Problem solving and analytical abilities Most employers will analyse how you approach a case study or activities organised at assessment centres. Have examples prepared for your interview which demonstrate your understanding of a challenge you’ve faced, how you prioritised and worked through the solution, if you sought help or approval and what the outcome of the situation was. It is helpful to explain your thought processes and show logical analysis when answering questions like this, as it will give the interviewers insight into how you think and what you would be like to work with.

4. Customer service and client relationships Working in insurance you will need to understand the company’s clients, their needs and how best to meet those needs. Having the ability to build and maintain professional relationships is essential for retaining business and will make you a valuable asset to any company. Recruiters will take into account how you interact with your assessors, other candidates at the assessment centre and the rapport you are able to build with your interviewers. If you have had experience understanding and dealing with the needs of others, use these as examples during your interview. You may draw on volunteering experience, part-time jobs, or your involvement in a university society or student union.

5. Teamwork Your ability to work as part of a team will be tested and evaluated during group exercises at the assessment centre. To make a positive, lasting impression, constructively contribute to discussions and activities while listening to your peers and encouraging them to do the same. Teamwork is all about being able to operate smoothly and efficiently within a group – this involves being able to compromise and having the ability to communicate with, negotiate, influence and advise your team. It is important to remember that different employers are looking for different things; insurance is an extremely diverse sector and one size does not fit all. Before you apply, research the different companies, read their websites and speak to their representatives at careers fairs. Get a feel for the companies so that you can apply to the employer that’s right for you.

Given the small number of degrees directly related to insurance, many employers will hire someone on the basis of their soft skills and commercial awareness over the degree subject studied. Insurance professionals come from a wide range of backgrounds, from ancient history to zoology, via business and finance.

KEY SKILLS 1. Communication and negotiation skills In the insurance profession you will work with a wide range of people; from finance professionals to those with little to no finance knowledge. One of the most valuable skills you can possess and develop for this reason is the ability to adapt your communication style so that you are able to explain complex and sometimes technical information to a variety of audiences.

Recruiters will assess your communication style through your application and will be looking for evidence that you can correspond accurately and effectively with clear structure.

2. Numerical ability Although it is not necessary to have studied a numerical degree to work in the insurance sector, some numerical ability is essential for most roles. Numeracy skills mean being able to understand and work with numerical and graphical information, draw conclusions and explain your findings.

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CHOOSING THE RIGHT EMPLOYER

CHOOSING THE RIGHT EMPLOYER

Largest companiesIf you take the Global Fortune 500 as your measure, the largest insurance sector companies with graduate schemes in the UK are:

Quality not quantityAXA is a very, very large company with more than 165,000 people working for it around the world. Yet it does not offer a similarly huge number of graduate places. There are usually around 12 positions on its scheme – compared to the ‘Big Four’, that is miniscule. Imagine being one of that small number of people though – a customised programme designed to progress you to be the best you can be in a global business. You have tremendous visibility across the organisation – that visibility simply cannot happen when there is an intake of 100, let alone 1,000 a year.

The sector companies that tend to recruit the largest number of graduates each year are Allianz (on the list above) and Aon (not within the Global Fortune 500 but the world’s largest of its type – (re)insurance broker, consultant and risk

management company). Few sector companies hire more than 50 graduates a year – our sector’s approach is focused on quality not quantity.

Rather than thinking about the size of company you want to work for, take time to reflect on the experience that you are after. The best graduate schemes will have excellent buddying and mentoring support, sometimes with scope for reverse mentoring; a strong induction programme; support through all levels of professional qualifications; a commitment to diversity and inclusion; and a meritocratic approach.

Small can be beautifulThere are many smaller businesses in our sector that are still multinational. These smaller companies are likely to offer fewer than ten places to graduates each year but these opportunities are likely to offer you two things – excellent visibility in the business, and the chance to get involved in multiple business areas. Companies that have had a small but high-quality graduate intake in the past include Chaucer, Liberty Specialty Markets and Markel.

Never too soon to start researchingYour plan of action should involve building your knowledge and networks in your first year – if you can gain some sector experience or attend insight days and raise your profile, so much the better; your second/penultimate year is about securing an internship; and your final year is about getting a place on a graduate scheme.

Networking = informed choicesIf you are looking to build your network to find out more about companies’ internships and graduate schemes, a good way to do this is to become a Discover member of the CII. It won’t cost you any money and will give you insight in

to sector businesses, trends, testimonials and news; more importantly, it gives you access to people who are already doing the jobs that you want to do, as well as people who are involved in the recruitment process.

Who are you?Before embarking on the graduate job search, take some time to understand yourself. If you’re a shy person, a role in broking is unlikely to be the right choice for you. Similarly, if you are the life and soul of the party, working in a back-office function may not give you the stimulation that you seek.

Once you’ve figured out your personality, understand what roles different sector companies offer. Don’t forget those roles that you find in all companies – HR, marketing, IT, business development and so on.

Find the right shape for youNot all graduate schemes are the same – some are rotational, giving you exposure and experience in a number of business units. Some are fixed on a particular business area or specialism from day one. It’s up to you to decide what your preference is – a little sight of

a few things, or plenty of one. There is no right answer, but do your research on the different schemes beforehand.

Non-graduate scheme jobsThere are many jobs out there are that aren’t badged as graduate schemes – they are often overlooked by students. Don’t fall in to the trap of getting tunnel vision about graduate schemes. These roles will support you through professional qualifications in much the same way as a graduate scheme.

London or beyond London?Finally, have a think about your starting location. It’s tempting to focus on London – it’s the heart of global insurance and risk management – but don’t forget there are opportunities around the country. For example:• Birmingham • Bristol • Glasgow • Leeds• Manchester.

There are thousands of companies across the country so if you don’t really want to work in a big business, in a capital city, you don’t have to.

Although there are more start-ups on campus these days, most students we come across are very keen to join the biggest company that they can find. As a strategy, it is not the worst but does not give the full picture. Let’s start there, though, to show what insurance can offer.

AXA #33 Allianz #34

Zurich #141 AIG #150

Liberty Mutual #249Aviva #279

Swiss Re #282

> Amazon > Microsoft> Unilever > Barclays > Goldman Sachs> American Express > Credit Suisse

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INTERNSHIPS & WORK EXPERIENCE

Check out our employer directory: www.insidecareers.co.uk

INTERNSHIPS & WORK EXPERIENCE

Companies across various sectors offer internships to students entering their penultimate year of study or to those who are considering postgraduate study after completing undergraduate courses.

Typically insurance internships organised by large graduate recruiters run for 6-10 weeks over the summer, giving you an opportunity to gain real life experience in the sector whilst also earning a wage.

Work experience is generally a shorter programme, from one day to two weeks, and these are often voluntary programmes where you will spend time shadowing a number of different departments, giving you a flavour of what your future career could be like.

When it comes to applying for your first graduate job, having experience or an internship under your belt makes you more employable: it is tangible evidence that you are driven, proactive and committed to a career in the insurance profession.

What are the requirements? These vary from company to company but generally candidates are expected to have a minimum predicted 2:1 degree or equivalent, GCSE Maths and English grade A*-C.

A desirable quality for most recruiters for these positions is also flexibility on location, as many internship and work experience opportunities will require you to work on a variety of projects across multiple sites. Find out what employers ask for in the Employer Directory at the back of this guide.

What’s involved in an insurance internship? By completing an internship you will have a greater understanding of what that company does and how closely their career offerings

match your career ambitions. It is the perfect opportunity to understand what you could expect if you joined their graduate programme the following year.

During the programme you could take part in a number of development activities which may include things like career planning, meeting and presenting to senior leaders and the delivery of business projects. Projects can involve working with data, building spreadsheets and models, or conducting research on an aspect of the business to present to your whole team.

An insurance internship will give you valuable real-world experience while you are still a student. It will enable you to apply your education in an environment that is both rewarding and intellectually stimulating.

Training and support Companies will provide you with a mixture of training and this will be dependent on what the programme consists of. This could range from formal training sessions to being assigned a mentor to guide you through your day to day work.

Internships and work experience also provide invaluable networking opportunities – make sure you take up your fellow colleagues on any opportunity for social activities, from sports to meals, as this is a great way to build your network with your future prospective team.

What will I take away from an internship? In addition to the specific training that a company will offer, you will also learn how to work within a professional environment. This could include how to present, manage deadlines within real-life project work, or other skills such as how to run a conference call.

You will also find out if you want to pursue a career within your chosen business area. In general, companies that offer internships have an excellent record of hiring graduates from their intern programme. The internship is a chance for you to see if you like the company and vice versa.

How can I apply? Applications for internships typically open in September each year. We strongly encourage you to keep an eye on your chosen company’s career website, their social media pages and the Inside Careers website to find out when applications open. The companies at the back of this guide all indicate whether

or not they offer internships in addition to graduate placements.

Before you apply, take time to review both the company and business area you are interested in to ensure they align to your skills, interests and future career aspirations. There are a wide variety of careers out there, so take time to research over the summer. If you are joining university in September and thinking about possible career paths, get in touch with the graduate recruitment team at the companies you are interested in. They may have an insight or work experience programme that you could apply to.

Cathryn Rousell is Willis Towers Watson’s University Recruitment Manager for the UK & Ireland. She specialises in recruiting for Pensions, Investment, Insurance, Actuarial and Non-Actuarial positions as well as HR Consultancy and Software Developers.

Are you not sure if an insurance-orientated internship or work experience is for you? Have you thought about doing one, but don’t know what to do or where to begin? Read this article for an introduction to insurance internships and work experience, and advice on how, where and when to apply.

Companies that offer internships have an excellent record of hiring graduates from their intern programme.

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APPLICATION & INTERVIEW ADVICE

APPLICATION & INTERVIEW ADVICE

Applications PRIORITISE PROSPECTIVE EMPLOYERS Don’t make your primary objective be to simply gain experience with any insurance employer. Focusing on companies that are the best possible match for you early on will save you a lot of headaches in years to come. Go through the companies listed in the Employer Directory from page xx and figure out which ones you would most like to work for. Do you want to work for a big or small company? Which sector of insurance interests you the most? These questions are also likely to be asked in an interview situation, so figuring out these factors early on will not go to waste.

SECTOR KNOWLEDGE You need to be able to demonstrate that you understand the sector you are applying to. Research the specific sector – what its main business areas are and the current issues affecting these areas. You can find out everything you need to know about the insurance sector in The Profession chapter of this guide as well as at www.insidecareers.co.uk/ins, so that you are completely comfortable discussing the fundamentals of the insurance industry at interview stage. For the latest insurance sector

news, check out the CII’s Discover Risk website as well as www.postonline.co.uk to give yourself plenty of current insurance knowledge to discuss at your interview. This knowledge can be portrayed in your applications and cover letters by explaining your career aspirations and how you envisage these being affected by current industry concerns. Companies will often reject otherwise perfect CVs if it appears the applicant has not completed basic research into the insurance sector.

YOUR CV Your CV is your key tool for promoting yourself prior to interview. Invest time in creating a strong and comprehensive document, completely free of spelling, grammar and layout errors – this demonstrates your attention to detail without you having to list it alongside your other attributes. Your CV shouldn’t vary too much for each application if you make sure that the information included on it is relevant to an insurance employer – the biggest change you may have to make is simply re-ordering the information so that the most crucial elements for that role comes first.

YOUR COVER LETTER With cover letters, you need to strike a balance between brevity and substance. Your cover letter should definitely be tailored for each application you make. Include details specific to the company and role that you are applying for (it’s useful to highlight important sections of the job spec and make sure you address each point). For example, if you are applying for a smaller company explain that you are interested in being able to take on a high level of responsibility early on, or for a larger company you could mention that you are interested in their international opportunities. Be honest: tell the company why you want them and why they in return should want you!

Interviews RESEARCH, RESEARCH, RESEARCH! You have your foot in the door. Remember all that research you did for your application – it’s time to double down! You should have looked into the company you are interviewing at enough by now to know the necessary information such as their areas of business, size, structure etc. If there was information you couldn’t find that you are interested in, note this down as a question to ask at the end of the interview. It is positive to show the recruiter that you are genuinely interested in their company.

However, now it is time to think more broadly about the challenges the company is facing and issues surrounding the sector you are interviewing for. Refresh your knowledge of present insurance sector news. It is highly likely there have been developments and new situations since your application. Also think about who their main competitors are and the sorts of clients they mainly target. In addition, can you find any employee profiles on their website or on Inside Careers? They could provide a great source of extra information or ideas for questions.

BREATHE, THEN ANSWER Recruiters advise that short, concise answers are often best. Do not simply regurgitate every piece of information you know about the subject of the question you’ve just been asked.

Try your best to keep your answers on the short side, focused on the specific question asked and arrive at a definite end – if the interviewer wants more information, they will ask for it.

Try not to over prepare. It is helpful to note down some key points on likely questions but do not prepare complete answers – the exact question will never come up. Employers also like to see first-hand that you have the ability to think on your feet. If you’ve done the leg work, researched the company and sector enough, you should be able to speak with confidence and keep it as natural as possible. This approach will be much more attractive to a company than proving that you can learn information by rote.

Finally, be yourself! It is important to engage with your interviewers – show them that you have a personality as well as copious amounts of sector knowledge and suitable skills. Try to relax and remember that your interviewers are looking for someone they’d really like to work alongside. Don’t be afraid to ask questions about anything you are unclear on after the interview – this shows that you were paying attention and portrays that you will deal with clients in a similar, straightforward and efficient manner.

FOLLOW UP After your interview, follow up with an email thanking the interviewer or HR contact for their time and consideration. Briefly reiterate why you think you are suitable for the role, focusing on specific areas that came up in the interview and state that you look forward to hearing from them again in due course. This is a clever way of ensuring you are remembered post-interview and shows good professional courtesy, which goes a long way in every sector!

There are some key things you can do when preparing for applications and interviews in the insurance profession. Give yourself the best possible chance of securing the position that’s right for you by reading the tips below.

Companies will often reject otherwise perfect CVs if it appears the applicant has not completed basic research into the insurance sector.

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Finance Intern – Allianz 28

Actuarial Analyst – RSA 30

INTERNSHIP PROFILES

Large Loss Manager – NFU Mutual 42

Project Risks & UK Construction Practice Leader – Willis Towers Watson 44

SENIOR PROFILES

Aviation Reinsurance Broker – Aon 32

Graduate Trainee Financial Planner – Mazars 34

Graduate Trainee – Liberty Speciality Markets 36

Graduate Underwriting Assistant – Markel International 38

GRADUATE PROFILES

Direct Commercial Underwriter – Hiscox 40

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INTERNSHIP PROFILES

Find internship opportunities: www.insidecareers.co.uk/ins

FINANCE INTERNALLIANZ

SOUTHAMPTON UNIVERSITYBSc MATHEMATICSALLIANZFINANCE INTERSHIP

LUCY FILER“An internship is ideal for someone who isn’t

necessarily certain about where they

would like their career path to take them.

Projects undertakenDuring my internship I was fortunate enough to get involved in a project around how the company is invoiced by our documentation suppliers. This process was complicated and I created a guide to explain how the process ran and suggested improvements to be made. This gave me exposure to other areas of the business and I was able to present my finding to senior managers.

Why did you choose to do an internship?I chose to complete an internship in my penultimate year of university to improve my experience and knowledge and to increase my chances of obtaining a job after I finished my degree. I had three months off over the summer so although I was working as an intern for nine weeks, I still was able to enjoy my summer. It gave me the opportunity to see whether finance was going to be something that I was interested in, without committing to a full-time job in the department. I was

also very keen to experience what an office environment would be like, as I had never had this chance in previous jobs.

How did it tie in with your overall career plans?I have never been sure what I would like to do as a career. As I was studying maths, finance seemed like the obvious decision. As I knew very little about finance, but thought it might be of interest, I did some research and found it a good fit for my skill set. An internship is ideal for someone who isn’t necessarily certain about where they would like their career path to take them, as it gives them an idea of the different departments within a division that it is possible to work in.

What was the application process like? Any advice?The process was much like that of any other internship application. It comprised four competency-based questions including: ‘why you are interested in the company and role?’, then numerical and inductive reasoning tests, followed by a telephone interview; running through your experience on your CV, and further competency-based questions. If you are successful at this stage, you are invited to attend an assessment centre containing an interview and a presentation. When completing the online application form, it is crucial that your CV looks as professional as possible and details all of your experience correctly. You must ensure that the spelling and grammar is accurate

– you would be surprised by the number of applications with errors in! Another tip is to try and be original when answering questions – this will help you to stand out and proceed to the next stage of the application process.

What attracted you to the role?I am local to Guildford, therefore I was looking for a job that was commutable from home. Allianz is a global company with a huge number of opportunities and I was particularly drawn by Allianz’s commitment to their staff. I felt my personality fitted with the company. The idea of being able to see what all of the different departments within Finance do was particularly attractive, as this opportunity is not one which is normally available. What were the most important things you learned from the internship?I learned not to be afraid to ask questions and that having good relationships with your colleagues is key. I found that it is crucial to

make the most of the opportunity given to you and try to make a good impression and a name for yourself. I discovered that Allianz was a company that I would like to work for and, as I enjoyed my time within Finance so much, I was keen to return as a graduate.

Do you have any advice for someone seeking an internship?My top tip is always to spend time completing the application form. Run through it with your family, friends or lecturers to ensure it is of the highest possible standard. Rushing through a large number of applications is rarely successful and it is more efficient to do research in advance to find a few internships that you are really keen on and investing your time in completing those.

What skills did you acquire or improve during your internship?I learned how to communicate within a workplace, which is a key skill that I was glad to have gained early on in my career. My Excel skills improved significantly, along with my insurance and general financial knowledge.

It gave me the opportunity to see whether finance was going to be something that I was interested in, without committing to a full-time job.

I learned how to communicate within a workplace, which is a key skill that I was glad to have gained early on in my career.

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INTERNSHIP PROFILES

ACTUARIAL ANALYSTRSA

KING’S COLLEGE LONDONBSc PHYSICS AND PHILOSOPHYRSASUMMER INTERNSHIP

FRASER

“As interns, we were essentially treated

as associates would be upon joining the

organisation. ”

Do you have any advice for somebody wanting to work in Insurance?For someone wanting to join the profession as a graduate, I’d say looking into an internship beforehand is absolutely key.

I managed to get an internship with RSA in the summer before my last year of university, and really enjoyed the way the firm gets things done. Luckily, I was asked to join the graduate scheme following that process, and generally that is the way RSA picks its graduates.

To get onto an internship, I’d recommend applying early, improving your Excel proficiency and really focusing on marketing your skills. My degree choice is not as traditional as Maths or Actuarial Science, but it does provide skills which are crucial to this role such as critical thinking and qualitative analysis, so it was very important that I made these skills known on my application.

What is it like working and studying in RSA’s Actuarial Development Scheme?RSA really encourages graduates to learn and experience different facets of the business. The Actuarial Development Scheme is designed to help graduates progress in the exams and support them the whole way.

It supplies everything you need for the actuarial exams, as well as providing mentoring, days off for studying, and rotations around the business.

I’m still on my first rotation in the reserving department, but I’m looking forward to rotating round to a pricing role in the future. This way you can get experience in lots of different roles, which means you not only get to test them out before settling in longer-term, but it also allows you to build a broader range of skills which is extremely valuable.

Being on the Actuarial Development Scheme, I’ve found I’m tested in new ways every day. RSA’s encouraging culture means that I’m not afraid to try new challenges, and my managers always set time aside for interesting projects which help me develop wider abilities.

There’s also a great community outside work, meaning that there are always socials, volunteering opportunities, or a bake sale happening somewhere!

What does working in Reserving involve?Reserving has been a very interesting first rotation, as it affects and is affected by almost all areas of the business. It has helped me to understand each role the business plays, whether that be claims, underwriting or pricing, as each of these areas will have a direct impact on the data which arrives at my desk. Reserving is a quarterly process, meaning that we can observe longer-term trends over multiple reserving cycles, and once we spot a change it can reverberate around the whole business. This makes it a fantastic starting position for a new graduate – not only do I get to meet

people from all around the business, but I can see how decisions I make affect the business as a whole.

Apart from the technical skills that any actuarial field requires, working in reserving has also helped me improve my presentation skills, as the role involves two quarterly reporting meetings in which I am required to explain changes in data developments or pose questions to other areas of the business. I’d recommend applying

early, improving your Excel proficiency and really focusing on marketing your skills. My degree choice is not as traditional as Maths or Actuarial Science, but it does provide skills which are crucial to this role.

Being on the Actuarial Development Scheme, I’ve found I’m tested in new ways every day.

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GRADUATE PROFILES

For application advice head to: www.insidecareers.co.uk/ins

AVIATION REINSURANCE BROKERAON

LSE & UNIVERSITY OF BATHGEOGRAPHY; MANAGEMENT & FINANCELONDON

OLLIE BARCOCK

“Every day feels like a school day and I have not stopped

absorbing information since I began.

What attracted you to the Aon Graduate Programme? Insurance was a career I hadn’t thought about before and came across it whilst researching applications during my Masters programme at Bath University. The more I read about the industry, the more interested I became. It provided the chance to work with clients from all over the world, whether SMEs or large corporates and I really felt it would suit my personal skill set. Following a lot of research, I became particularly interested in the reinsurance segment of the industry. Aon is a multi-faceted market leader and has a reputable Insurance graduate scheme. As such, when I was lucky enough to be offered a position within Aon Benfield on the graduate programme, it was something I couldn’t turn down.

What have you learned in your role so far? Where to start? My skill set has improved hugely since life at Aon began. This ranges from technical understanding, both proficiency and efficiency, contact base within the market and trying to be as strong at my role as possible. I have also nearly completed the ACII qualification with one exam left so that will be really useful to get under the belt. The graduate programme was also a great environment to improve my wider skill base, taking part in activities such as presentation skill training and team building exercises, not to mention exposure

to some really exciting people within Aon and the wider market place.

What does a typical day look like for you? I am an early starter and get in to the office just after 7am. I will tend to spend around an hour sorting through emails that have come in overnight before addressing any high priority issues. Given the nature of the business, there are times of the year during renewals season where we are very busy. Therefore, this will involve running analysis, liaising with clients and discussing strategy internally.

Towards late morning I will normally head out of the office and in to Lloyd’s to see reinsurers which will last until around 1pm. Dependent on how busy I am, I may try and pop to the gym but otherwise, I will do a working lunch at my desk. The afternoon again will be mixed with meetings and maintenance of accounts along with working

on up coming renewals or potentially any new tenders we are participating within. My day usually finishes around 6:30pm. I have just joined the cycle to work scheme through Aon so have begun cycling to and from work which is an enjoyable way to start and end the working day.

What have you enjoyed most about your graduate programme? There are many factors but I would say overall, the people I have met and the amount I have learned. Every day feels like a school day and I have not stopped absorbing information since I began but I hope this continues as it is a great

way to stay motivated. Aon has made me feel exceptionally welcome and I have felt part of the team from day one, which can only be a positive for any newbie commencing life here.

What’s next for you? I have now been with Aon almost two years and over the next two, I am very much focused on increasing my knowledge base and skill set further. I would love to be able to turn around five years into life here and feel as though I had really made a head start into my career and was well on the way to a great journey. What advice would you give to someone considering applying for a graduate or internship programme? Do it! Make sure you try to meet and experience as much of a company as you possibly can early in your career.

The graduate programme was also a great environment to improve my wider skill base, taking part in activities such as presentation skills training and team building exercises.

I have felt part of the team from day one, which can only be a positive for any newbie commencing life here.

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GRADUATE PROFILES

GRADUATE TRAINEE FINANCIAL PLANNERMAZARS

UNIVERSITY OF MANCHESTERBSc BUSINESS MANAGEMENTMSc MARKETINGMILTON KEYNES

HUGO CLAY

“Financial planning is not just about selling financial products, it’s about helping clients

achieve their life goals. ”

Why financial planning? After finishing university I worked part time for a small Independent Financial Advisory (IFA) firm where I was immediately impressed by the difference that high-quality financial planning can make to people’s lives. I had previously been under the impression (as I think most still are) that financial planning/financial advice is just about selling people financial products. However, after gaining experience I began to understand the overall focus is on helping individuals achieve their life goals – and this is what got me hooked.

Application processLike most graduate roles, the application process at Mazars involved several stages – firstly an online application followed by online tests, a first interview and then finally an assessment centre.

The assessment centre then consisted of a presentation, an in-tray exercise and finally a

Partner interview. It was not an intimidating day and the focus was on ensuring that we would fit in with the firm and enjoy our job role. I would advise that you research the firm, the job role and communicate clearly why you want the job, why you will enjoy it, and what skills you have that will match the job profile.

Mazars graduate schemeThe graduate scheme is set in two fairly distinct stages. Whilst I am currently in the first stage I am often: • Conducting research on client’s existing

policies to assess whether they are suitable for the client’s needs and objectives.

• Rebalancing client’s investment portfolios to ensure that their investments remain in line with their attitude towards risk whilst minimising Capital Gains Tax liabilities.

• Writing a wide range of client recommendation reports for, and under the guidance of, qualified financial planners.

• Receiving technical training by qualified and experienced Paraplanners and Financial Planners at Mazars. This is essential in cementing knowledge learned from exams, whilst also enabling me to take on increasingly complex work.

The second part of the graduate scheme (which usually starts after 18 months) is spent as an Assistant Financial Planner working directly with qualified Financial Planners, attending client

meetings and working together to provide advice. The fourth year of the graduate scheme involves continuing as an Assistant Financial Planner and completing role play tests. Once (and if!) those are passed, the aim is to become signed off as a qualified Financial Planner to then take on and build up a portfolio of clients.

Benefits• Rewarding – as touched upon previously,

providing strong holistic financial advice is rewarding since it provides clients with visibility over their finances and assists them in achieving their life goals.

• Each client is different – clients all have a different situation, a varying level of wealth, and a wide variety of needs. This means that no client meeting and no one piece of advice is ever the same, therefore guaranteeing a varied level of work.

• Building long-lasting relationships – whilst not yet at that point, once a qualified Financial Planner, you will build up clients’ trust and work with them over many years providing ongoing advice.

Challenges• Exams – as with many professional

careers, studying alongside work is essential. Whilst they can be challenging, they are vital to progressing your career and once completed will provide you with industry-recognised qualifications.

• Constantly changing investments, tax and pension regulation – aside from exams you are forced to continually learn new rules and remain updated on industry changes. The positive is that it ensures a varied job role as it continually provides a wide range of planning opportunities.

• Tax year end – 5th April brings with it many important deadlines related to one’s financial position, such as making pension contributions, ISA subscriptions and using various tax allowances. No matter how early you plan each year, tax year end is very busy and is likely to involve some late nights.

Necessary skills• Excellent interpersonal and

communication skills – a large part of being a financial planner is holding meetings with clients. As you are often dealing with a client’s total accumulated wealth, you need to be able to hold very personal discussions and obtain the client’s trust. From a technical standpoint, you need to be able to explain complex concepts in a simple and interesting way that keeps the client engaged.

• Strong analytical and research skills – clients can have very complex needs and you need to be able to take into consideration all the potential scenarios and the impacts of each before formulating advice on the best course of action for the client.

• Entrepreneurial – as a financial planner you need to have the drive to go out and build up your own portfolio of clients. Whilst (depending on the firm) you are likely to have experienced planners on hand to assist you in the early days, it’s largely down to you to get your name out there, promote yourself and engage with prospects.

TipsTry and obtain some work experience – whether in a small IFA firm or something bigger. This will help you decide whether you do want to pursue a career in financial planning and if you decide that you do, it will be invaluable for when you apply to firms for a full-time job/graduate scheme. There are lots of small IFAs around so I would recommend sending out your CV with a cover letter and expressing interest in an internship/work experience.

You will build up clients’ trust and work with them over many years providing ongoing advice.

As a financial planner you need to have the drive to go out and build up your own portfolio of clients.

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GRADUATE PROFILES

For interview advice head to: www.insidecareers.co.uk/ins

GRADUATE TRAINEELIBERTY SPECIALITY MARKETS

UNIVERSITY OF BIRMINGHAMLLB LAWLONDON

KAJAL PATEL

“The most important piece of advice I can

give is to be yourself.”

A typical day at work Compliance, as a sector, is experiencing tremendous growth and importance due to increased scrutiny from the regulators. A large part of my day to day work involves conducting sanctions and broker screening checks as part of the ‘Knowing Your Client’ due diligence process. I keep constant tabs on key regulatory developments from the Financial Conduct Authority (FCA), Prudential Regulatory Authority (PRA) and Lloyd’s. This is important to ensure we are both proactive for our clients and always one step ahead in terms of putting the appropriate systems and controls in place.

On the Liberty Specialty Markets (Liberty) graduate scheme, we are given the opportunity to rotate and undertake secondments in various departments. As part of my personal development, I have completed secondments in Legal, Claims, Underwriting and Risk Management. These have been invaluable experiences allowing me to gain exposure to large parts of the business whilst also improving my technical knowledge.

Projects undertakenRecently, I undertook a research project relating to cyber security. This is a topical issue which poses a serious threat due to the amount of sensitive client data held in the Cloud. As this is one of the FCA’s key priorities for the coming year, my research focused on the outcomes the

regulator is keen to achieve and their key planned activities. Another project I am currently working on involves researching FATCA (Foreign Account Tax Compliance Act) – an important piece of US tax legislation which potentially impacts Liberty’s business. In particular, I have been focusing on the implications of non-compliance.

Presently, I am involved in the development of an Underwriting Authority Management Tool, which aims to simplify the current task of issuing, amending, monitoring and maintaining underwriters’ authorities.

How did you get your job at Liberty? I heard about Liberty through the Lloyd’s of London website. Having read through the graduate profiles, I was suitably impressed to apply.

What was the application process like? Any advice?The application process itself took about three months in total and consisted of

Skype interviews, online testing, group exercises, face to face interviews and a final presentation. It was a demanding process, but Liberty made the whole experience very comfortable and enjoyable.

This may sound a cliché, but the most important piece of advice I can give is to be yourself. It is worthwhile remembering that assessors are trying to elicit your positive attributes. They are not there to find your weaknesses. In relation to cover letters and interviews, be sure to tailor your aspirations for working at a specific company rather than giving generic reasons. Why did you choose a job in this sector?I was initially considering a career as a corporate lawyer, but work experience in the insurance sector whilst studying at university sparked an interest. I was impressed at the vast range of business classes the London insurance market covers. It really is an industry that affects every single person in both a professional and personal capacity. What has surprised me most about the industry is how social it is and also the strong emphasis placed on a good work/life balance.

What skills are most useful in the role?The ability to understand and adapt to your audience for each piece of work is imperative. I have to be flexible to meet deadlines for constantly changing priorities and for different levels of management.

Secondly, analytical and communication skills are useful as you are required to succinctly condense and understand complex regulations and communicate these to the rest of the business. My team acts as a key point of contact for compliance queries and often meets with individuals of varying seniority from around the business.

Is it a 9-5 job?We do have set hours of work. However certain times of year will be busier than others and where we have tight deadlines to meet, we will work longer to get the job done.

What challenges have you faced and how did you overcome them?Liberty organised a firm-wide project to improve and build upon our understanding of emerging risks and how these may impact the insurance sector. This was a great opportunity for me to meet people from different disciplines of the business with whom I would not normally

interact. The project required detailed research on some very technical issues and discussions with our team members. The challenge here was to balance research for the project alongside meeting compliance deadlines and revision for my CII exams. I was able to overcome the challenge by carefully prioritising my workload and setting specific achievable targets for revision and project research.

Compliance, as a sector, is experiencing tremendous growth and importance due to increased scrutiny fromthe regulators.

The application process itself took about three months in total and consisted of Skype interviews, online testing, group exercises, face to face interviews and a final presentation.

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GRADUATE PROFILES

For assessment centre tips: www.insidecareers.co.uk/career-advice

GRADUATE UNDERWRITING ASSISTANT MARKEL INTERNATIONAL

UNIVERSITY OF EXETERBA INTERNATIONAL RELATIONSLONDON

ROSS RITCHIE

“Be prepared to be very open and ready to meet new people.

My typical day to day roleBeing part of a rotational scheme, my typical day to day role is often varied. In my current rotation as a Graduate Underwriting Assistant for our Personal Accident, Contingency and Entertainment (PACE) team the day is very structured which is something that I find easier to work with.

The day starts with some time in the office and helping the other underwriting assistants to process endorsements and risks. Before midday we head over to Lloyd’s and the ‘box’ (our group of desks) which provides me with an opportunity to learn from the knowledge of our underwriters when writing new risks.

Returning to the box after lunch, the team would typically stay here until 16:30 when we will return to the office and wrap up the jobs for the day. As part of the graduate scheme, weeks often involve helping out with scheme-related work, which also breaks up the day nicely!

ProjectsOn my first rotation in Strategy, I was given a broad range of projects to work on. These ranged from looking at developments in InsurTech, the Indian insurance market and assisting with peer review oversight. Being given longer-term projects is something which is challenging, as there are times when it is difficult to see clear signs of progress,

however the completion of these projects is always rewarding. With the PACE team, my projects are often much shorter and based around a day by day structure. Alongside these shorter projects I will be looking to develop the Personal Accident ratings matrix as a longer-term project for the team. Part of my job, which I wholeheartedly enjoy with the PACE team, is purely to listen and learn from the underwriters. The wealth of knowledge and skills that they possess is invaluable and I am hoping by the end of the rotation to soak up as much of this as possible.

How did you get your job at Markel?I got my job by completing the online application process. An old school friend of mine was already in the market working as a broker. He advised me of the strong reputation

which Markel has and to apply for the scheme… now here I am!

What was the application process like?Any advice?The application process for the scheme was relatively short and only entailed a CV/online application form and then an assessment centre in London. The application process was well-structured and focused; they know exactly which type of person they are looking to recruit. My best bit of advice would be to take into consideration the culture of the firm through the ‘Markel Style’, and think about how you personally fit in with this style.

Why did you choose a job in this sector?I chose the insurance sector due to the way in which it is based around relationships and how it is a sector where personal skills count for a lot. The insurance industry really is a hidden gem of a London sector and one which does not get as much publicity as other areas such as banking. The localised nature of the market based around Lloyd’s is also hugely attractive, as you get to know other people in the market much quicker by seeing them on a day to day basis.

What are the most stressful parts of the job?Balancing my day to day job with the pressure

of exams. Markel really do push you through the CII exams and will keep pushing you all the way until ACII accreditation has been achieved. Whilst at the time, the pace and frequency of these difficult exams can seem like a huge burden, it is extremely beneficial for my development as a professional within the market. I will undoubtedly be thankful for being pushed through in a couple of years!

Is it a 9-5 job?It is, however I tend to work the hours which are required for me to get a job done effectively. If this means getting in slightly earlier and leaving later then so be it!

On the flip side, Markel are very flexible in terms of work hours and appreciate the work/life balance. If there are times when leaving early is a must, then the fact that we are willing to put in these extra hours at other times means that we can always get away when needed. It works both ways.

Any advice for someone wanting to get in to the sector?Be prepared to be very open and ready to meet new people. You will be given a barrage of new information, skills and contacts and so meeting new people and listening to what they have to say is absolutely vital.

Try to learn something new from everyone you come across in the market.

Being given longer-term projects is something which is challenging, as there are times when it is difficult to see clear signs of progress, however the completion of these projects is always rewarding.

The insurance industry really is a hidden gem of a London sector and one which does not get as much publicity as other areas such as banking.

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GRADUATE PROFILES

DIRECT COMMERCIAL UNDERWRITER HISCOX

UNIVERSITY OF YORKBA POLITICS AND PHILOSOPHYYORK

CONOR ROCHE

“It’s exciting to see a change that you have

championed having an impact on thousands

of customers. ”

Why did you want to work at Hiscox?I first heard of Hiscox at a careers fair on campus during my final year at university. They were expanding their presence in York and invited us to visit their office. I got to meet some members of the graduate scheme, as well as senior leaders in the business and they really sold me on the atmosphere and culture of the firm.

When it comes to underwriting, the core function of the role: analysing a risk, assessing what could go wrong and deciding how to underwrite it, was really appealing to me. I turned up not knowing much about underwriting or insurance in general, but left sold on the company and the nature of the job – I wrote and submitted my application the next day.

What does your role involve?My role is broadly split between portfolio and case-by-case underwriting. I work closely with

50 insurance experts, who are on the phone speaking to customers from our Customer Experience Centre in York. Anything the computer can’t underwrite comes to our team, so I spend most of my time underwriting whatever crosses my desk. We’ve insured everything from ceremonial robes, to white hat hackers and professional bat consultants. When we’re not dealing with individual cases, we portfolio underwrite to allow the computer systems to write more business without referral to the underwriting team.

Is it a 9-5 job?No. My team supports our contact centre and they are open from 8am–7pm and they need us to help them write business. While my team doesn’t work shifts, there’s a lot of discretionary effort to support one another and the insurance experts. It’s where the company culture and team dynamics really shine through; we all pull together and get things done.

What do you like about working in insurance?The industry is changing rapidly, and I get to see and be part of that in my role. In Direct Commercial Underwriting we have real ownership and responsibility for our product lines and are empowered to make the decisions we want to for both individual customers, and for the whole portfolio. It’s exciting to see a change that you have championed having an impact on thousands of customers.

Projects undertakenWe recently launched our new cyber and data product through our Direct channel, and I was given the opportunity to own that product within our team. I was involved in designing the product offering, customer journey and pricing to create an appropriate solution for small businesses. We launched last year as one of the first insurers offering an exciting new product direct to small business customers.

During a secondment to the USA, I worked on devising and piloting a new type of partnership between Hiscox and other companies in the SME marketplace. This gave me an opportunity to work on a project from conception through to launch. This involved stepping outside of my normal role, and coming to grips with a new customer proposition in a very different marketplace, while building relationships with these new partners and managing internal stakeholders. It was a very different project to my normal role and one I learned a lot from.

What skills are most useful in the role?The three key skills I use on a daily basis are problem solving, data analysis and relationship building. We work in cycles of finding a problem, devising a solution, using data to support that solution and leveraging your relationships to get other people’s buy in. All three skills support one another in getting things done.

What would you like to achieve in the future?I want to shape a product line or business unit of my own, doing what I do now on a larger scale. I would love the challenge of using my skills and having the authority to act of my own volition. My current role gives me the opportunity to make change, but there is a safety net in that someone else has to sign it off. I’d relish the chance to own the decisions myself, along with the resulting success or failure.

Any advice for someone wanting to get in to the sector?Find the things you do now that demonstrate the key skills of problem solving, data analysis and relationship building and emphasise them. I didn’t do a specific insurance qualification before

starting this role, but I started to develop those skills in my degree and through extracurricular activities. Once you’re in the industry then your insurance specific study is more useful, so get into the habit of working through your CII exams or other qualifications as soon as you can.

I’d also recommend learning some basic coding. It’s been a bit of a personal barrier having to rely on other people to extract data for me to analyse, because I lacked the skills to obtain it myself. A good grounding in computer basics will let you get the information you need to do your analysis much quicker. Coding skills are only going to get more useful and more relevant so it’s an area I’m keen to keep developing.

What challenges have you faced and how did you overcome them?When I started, I did feel overloaded with information – there is so much to learn! I landed in a fully-formed functioning business that had already existed for many years in a complicated industry, transacting complex business. The key to surviving was to be willing to ask for help. I was lucky that in Hiscox there are always people to turn to and someone able and willing to help. In tough times, we pull together as a team and if I make a mistake, I know people will be there to help me.

The business I work in today is unrecognisable from the one I worked in on day one. That change is exciting and I’m always learning new things, but too much change can leave you hesitant and uncertain. Having a good team around you, who you can rely on, is key to maintaining your confidence. That confidence will grow organically over time and before you know it, you’ll be the person other people are relying on and asking for support. The challenge now is to pay it back, and offer that support to the people in your old shoes.

The three key skills I use on a daily basis are problem solving, data analysis and relationship building.

The key to surviving was to be willing to ask for help.

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SENIOR PROFILES

There are so many opportunities within claims that you can never get bored – this was an important factor in my career choice and has enabled me to grow and develop my career in a way that fits my ambition.

LARGE LOSS MANAGERNFU MUTUAL

How did you get in to the business?I graduated from Lancaster University with a degree in Business Studies. I joined NFU Mutual as a graduate trainee back in 2002, applying through their standard process. Since then I have held a number of roles in the claims department – including Strategic Analyst, Intelligence Analyst, Project Manager – before taking up the Large Loss Manager role in 2013.

That is one of the benefits of working in insurance – there are many career pathways open to you and you are not defined by your first role in the sector.

What do you do in a typical working day?I manage a team who handle the largest injury claims – typically in excess of £500,000. We therefore interact with other insurers and other professionals such as claimant and defendant lawyers to settle these claims. My role is to provide them with the tools and the environment to allow them to do what they do best – effectively settle claims whilst delivering excellent customer service.

A typical day is therefore working with the team on continuous improvements, their development and how we can continue to drive excellence in performance.

One aspect I particularly enjoy is working with great people, all striving to do their best every day, and being able to give those people the opportunity to do so.

I work in the claims function. From a customer point of view that means really being able to help them at their time of need – a key function of insurance. This can be a truly rewarding

experience, as a claim is when a customer looks to you to help them, and is the true test of what you’ve sold them.

There are so many opportunities within claims that you can never get bored – this was an important factor in my career choice and has enabled me to grow and develop my career in a way that fits my ambition.

What are the most challenging aspects of your role?Finding the time to do everything I want to do! There are so many great ideas on how we can improve our business and processes that prioritising them and seeing what works is key to ensuring we deliver the right outcomes. That is a challenge but also a fantastic opportunity for me and my team, since my colleagues will feed back to me on what the current issues are as well as potential business improvements.

Have you achieved any professional qualifications?Yes, I have completed my Advanced Diploma in Insurance (known by its designatory letters ACII), which is a degree-level professional qualification that you can find within most graduate schemes. It is something that takes two or three years to complete and does mean your social life is put on hold for a while! However, completing this qualification gave me the platform to build a successful career, since I learned about all the key aspects of how insurance works.

What have been your career highlights so far?There have been many, but I was particularly proud of being involved in the CII’s New

Generation Programme in 2013. Our work group helped to deliver a new process in the sector that related to requests for information made under Section 29(3) of the Data Protection Act.

The programme was an excellent way for future leaders from different companies to get together and help develop an idea collaboratively. It was great to be able to work with this team, and work with the sector to help solve a problem, rather than undertake a project for its own sake. This was a really rewarding experience. Our team also won a Fraud Award for our efforts, which was the icing on the cake.

Why did you choose a career in insurance?As I said above, it was important to me to find a career where I could have the opportunity to try new things. Insurance has definitely given me that in that I’ve been able to shape my own career in a range of roles including Project Management, Strategic Analyst and now Large Loss Manager.

2002

Graduated from Lancaster University with a degree in

Business Studies

NIGEL FRYER

2013

Promoted to Large Loss Manager at NFU Mutual

2013

Took part in the CII New Generation Programme

2005

Completed ACII qualification

2002

Joined NFU Mutual as a Graduate Trainee

‘I particularly enjoy working with great people, all striving to do their best every day, and being able to give those people the opportunity to do so.’ – Nigel Fryer talks us through his career in insurance so far and offers an insight into gaining professional qualifications and the vast array of career opportunities available to those with ambition.

There are many pathways open to you and you are not defined by your first role in the sector.

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SENIOR PROFILES

For more senior profiles go to: www.insidecareers.co.uk/ins

Curiosity led me to leave Willis a few years after, where I fulfilled a director level role for CE Health focused on multinational accounts.

PROJECT RISKS & UK CONSTRUCTION PRACTICE LEADER WILLIS TOWERS WATSON

My expertiseI currently manage two teams (Project Risks & UK Construction) where I am ultimately responsible for team profits and loss (P&L), sustaining a substantial income stream into Willis Towers Watson.

Alongside leadership of the team, my role includes reviewing contracts focused on project agreements, loan agreements, sub contracts, framework agreements and other third party contracts.

As experts in the field, we provide clients with advice on suitable insurance requirements for a project. We will also comment on insurance financial modelling and will ultimately broker and place the required insurance with underwriters (construction and operational).

Another key responsibility is the development of new business opportunities through industry networking events and importantly, recommendations.

My experienceI have worked for over 30 years in the insurance industry. Twelve of these were spent managing and servicing multinational accounts with captives. Captives are insurance companies established by a parent group or groups with the specific objective of covering the risks to which the parent is exposed.

I spent the following 18 years in project finance, dealing with limited or non-recourse financed projects worldwide with

extensive experience in all industry sectors (health, education, custodial, transport, renewables) providing consultancy and transactional expertise from bid stage through construction to operational.

My progressionI had the opportunity to join a school leaver apprenticeship programme after A levels and as I wanted to have a profession, but did not want to go to university, this seemed the ideal career to pursue.

I joined with three A levels and started my ACII exams. The ACII exams are the recognised professional qualification for the insurance industry. Shortly after completing the qualification, I joined what was then called Willis as an account handler and was promoted to Unit Leader within just six months and account executive six months after that!

Curiosity led me to leave Willis a few years after, where I fulfilled a director level role for CE Heath focused on multinational accounts. Involvement with my client’s Private Finance

Initiative (PFI) / Public-Private Partnerships (PPP) projects developed my project finance expertise facilitating a move to the Project Risks team.

In 2013 I returned to Willis (now Willis Towers Watson) and was appointed Practice Leader for Project Risks, a team of 17 people located in Edinburgh, Bristol and London. In September 2014 I was also appointed as the UK Construction Practice Leader, a team of 14 in London and Ipswich.

My training has mostly consisted of on the job training. My various line managers have always had faith in my abilities and have allowed me to get involved and to take on more responsibility. This level of trust is something I feel is particularly unique to Willis Towers Watson and has enabled me to get to where I am today.

Pauline Goreham has more than 30 years’ experience in the insurance industry since joining a school leaver programme after completion of her A levels. During those years she has managed to gain experience across all insurance industry sectors as well as several professional qualifications.

1982

Joined Reed Stenhouse’s (nowAon) school leaver programme

1989

Started at Willis

PAULINE GOREHAM

2015

Partnership Awards Gold AwardWinner for Insurance/Risk

Advisor 2015

2013

Returned to Willis and appointedPractice Leader for Project Risks

2000

Joined CE Heath to focus onmultinational accounts

1996

Gained CII Diploma oncompletion of ACII exams.

I had the opportunity to join a school leaver apprenticeship programme after A levels and as I wanted to have a profession, but did not want to go to university, this seemed the ideal career to pursue.

My various line managers have always had faith in my abilities and have allowed me to get involved and to take on more responsibility.

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About the Chartered Insurance Institute (CII) 48

CII Professional Qualifications 50

THE CII & QUALIFICATIONS

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ABOUT THE CHARTERED INSURANCE INSTITUTE (CII)

Email [email protected] to find out more about CII networks

ABOUT THE CHARTERED INSURANCE INSTITUTE (CII)The CII is the world’s largest professional body for insurance and financial planning. We currently have more than 125,000 members around the world, who help customers secure their financial futures. We know just about all there is to know about our sectors – we’ve been around as a chartered body for more than 100 years.

Most graduate schemes in insurance have support towards the Advanced Diploma in Insurance (ACII) included in it. It will take you around three years to complete this globally-recognised qualification.

Professional qualifications We have two professional qualification frameworks – one for insurance and one for financial services, which includes mortgage advice, paraplanning and financial planning. The brand that we use for financial planning is the Personal Finance Society. The key licence to practise qualification is the Diploma in Regulated Financial Planning – you need this if you want to deliver client-facing financial advice. Other qualifications are optional, but look for the companies which offer professional qualifications within their graduate schemes. Most graduate schemes in insurance have

support towards the Advanced Diploma in Insurance (ACII) included in it. It will take you around three years to complete this globally-recognised qualification.

There are fewer structured graduate schemes in financial planning companies but these will typically include support towards the Diploma in Regulated Financial Planning (Dip PFS) since this is the qualification you need to give client-facing advice.

Designations and CPD Once you complete our professional qualifications you will be able to use designatory letters – the pinnacle of any profession is Chartered status, and this is open to those with five years’ sector experience who hold the Advanced Diploma-level qualification.

Continuing Professional Development (CPD) is an important part of being a professional in any sector. You must undertake CPD every year in order to use your designatory letters. The CII runs hundreds of CPD events up and down the country, to ensure that our members maintain their knowledge – it’s not just about passing exams.

Networking Networking is one of the most important

things you can do while at university. The CII has a free Discover membership scheme to help you build knowledge and networks. You can do this through our website and social media, as well as attending events at our local networks. There are more than 50 ‘local institutes’ for insurance and 25 ‘regions’ for financial planning across the UK so you won’t be far from sector professionals. Events are a great way to build links and uncover informal work opportunities.

CII and your degree The CII works with universities across the country to promote our ‘standard award’. This is a set of credits that you can claim if you are graduating in these subject areas:

• Calculating insurance premiums• Accounting • Actuarial Science • Business • Economics • Finance • Law • Management • Marketing • Mathematics • Statistics.

Once you (or your employer) claim these credits, it will shorten the time taken to complete our professional qualifications.

You do not need to have a business or finance degree to work in insurance or financial planning. Recruitment is usually based on soft skills, which means that most degree disciplines are represented in the sector.

The CII has a free Discover membership scheme to help you build knowledge and networks.

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For full details visit: www.cii.co.uk/qualifications

CII PROFESSIONAL QUALIFICATIONS

Our qualification frameworks (in insurance and financial planning) are internationally recognised and respected. It’s one of the reasons we have 125,000 members globally. The insurance framework provides a clear pathway for a career in global insurance markets.

Award in London Market Insurance (ALMI) An introductory, two-unit qualification for those working, or with an interest in working, in the London insurance market. This marketplace deals with a huge range of risks, from commercial property to alien abduction!

Certificate in London Market Insurance This is the core qualification for those working in the London Market. It’s the ideal next step for ALMI holders, with only one further unit in underwriting to complete. Qualification completion, and continuous professional development (CPD), allows use of designatory letters Cert CII (London Market).

Certificate in Insurance Ideal for those with little or no prior sector knowledge, it contains one compulsory unit and other optional units on areas such as broking, claims and underwriting. Qualification completion, and CPD, allows use of the designatory letters Cert CII.

Diploma in Insurance This sits at the technician level of the framework. There are two compulsory units on insurance law and business, plus optional units on areas from risk management to aviation and space insurance. Qualification completion, and CPD, allows use of the designatory letters Dip CII.

Advanced Diploma in Insurance The Advanced Diploma is the world’s most recognised insurance qualification – think of it as a second passport. There are the same two compulsory units as the Diploma, with a range of other units that cover advanced broking, claims, underwriting, as well as risk management, management and Islamic

insurance (Takaful). Qualification completion, and CPD, allows use of the designatory letters ACII.

After these professional qualifications, you have other options:Certificate in Contract WordingCertificate in London Market Specialisation Certificate in Insurance Market Specialisation

Visit the CII website www.cii.co.uk/qualifications for full details of all insurance qualifications.

Fellowship This is for those who already hold the ACII and have at least four years’ sector experience. Follow the link below for full details of what you need to apply for this – a few years down the line for you though!

Chartered status The CII offers pathways to Chartered status, which demonstrates the highest level of professionalism and expertise. It is open to those who already hold the ACII and have at least five years’ sector experience. We offer the following designations: Calculating insurance premiumsChartered Insurance Broker Chartered Insurance PractitionerChartered Insurance Risk ManagerChartered Insurer.

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Aon 52

AXA 54

Canada Life Limited 55

NFU Mutual 57

RSA 58

Willis Towers Watson 60

Zurich 62

FEATURED EMPLOYERS

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EMPLOYER PROFILES

Few things are certain in life. Economic upheaval, political crises, natural disasters – and plenty more besides – all mean the world can be full of surprises. At Aon, we draw on the expertise of over 50,000 people to help the biggest names in business plan for every eventuality. Our size, global network and emphasis on innovation, mean where we lead, the industry follows.

In addition to being the world’s number one Insurance Broker, provider of Reinsurance and Human Capital Consulting, Aon are a market leader in Actuarial Consulting. We have been advising companies and trustees on their pension schemes for over 60 years. Our Actuarial Consultants specialise in advising our clients on those schemes to help them manage the associated financial and operational risks, now and in the future.

We’ve recently moved our global headquarters to the UK. Here we rely on 6,500 employees across 30 offices to uphold our reputation for excellence, insight and outstanding service delivery. It’s the skills, knowledge and attitude of these people that help us do what we do best. So, if you’re looking for a sure-fire way to start your career, and have a 2:1 degree or higher, we’d like you to join them.

We recruit summer interns and graduates into seven streams: Pensions; Investment Consulting; General Insurance; Human Capital Consulting; Insurance, Reinsurance and Risk Management; Captive Solutions and Health & Benefit Broking and Consulting.

Early responsibility is a way of life at Aon. You’ll very quickly become a technical specialist in your particular area, meeting clients and advising them on our market-leading products far sooner than you would in many other organisations. Our training will fully equip you to make an immediate impact on our business. We also provide full study support for professional qualifications. All in all, everything is in place to help you forge a career in which challenges and rewards will come in equal measure.

No. of employees50,000 worldwide

No. of qualified actuariesc. 400

Opportunities available4 GRADUATE JOBS4 INTERNSHIPS4 PLACEMENTS4 SCHOOL LEAVER SCHEMES

No. of graduate jobs80

No. of undergraduate opportunities80

Disciplines recruited fromAll degree disciplines

Offices recruited intoOpportunities nationwide, depending on your chosen stream

For application deadlines, the latest jobs and events visit:

www.insidecareers.co.uk

EMPLOYER PROFILES

What attracted you to the Aon Graduate Programme?I took part in an Aon internship and really enjoyed the opportunities I was given, the teams I was involved with and the corporate culture.

What have you learnt in your time at Aon? I have been able to learn about the differences between business lines through my several rotations. I have been able to develop an understanding of how the policies respond, through training and through my exposure in real life instances to these claims. The graduate scheme has also allowed me to work on several projects which have allowed me to meet with senior members within Aon and within the market, as well as developing my presentation skills and ability to partake in meetings and conference calls. I have also been able to start to learn Spanish during my time at Aon, enabling me to have better communication with many of our clients who are Spanish speaking, and our local office.

What does a typical day look like for you? My days are very different, depending on what is in my calendar and what the current status of any claims I am handling is. I often answer client queries, attend meetings or participate in conference calls throughout the day. As a claims advocate you spend less time out in the

market, but more time liaising with the client to meet expectations and the underwriter to help gain the maximum amount of coverage for the client which is available. I sometimes attend seminars in order to broaden my knowledge of the claims handling process and my specific business line.

What have you enjoyed most about your Graduate Programme? I have really enjoyed all of the extra opportunities, including taking my ACII exams, participating in projects outside of my everyday role and attending training such as energy school.

What’s next for you at Aon? My next rotation is within the Political Risks team and I hope to develop technical knowledge whilst learning about the different workings of my new team.

What advice would you give to someone considering applying for the 2018 Aon Graduate or Internship programme? I would encourage a potential new candidate to really immerse themselves in the programme and the opportunities it offers and always offer to help out. The programme really offers an opportunity to expose you to a high level of training.

TRAINEE PROFILENAMELOCATIONUNIVERSITYDEGREEROLE

Natalie RobertsLondonReadingLawClaims Advocate

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EMPLOYER PROFILES

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jobs.axa.co.uk

The world is constantly changing and at AXA we want to lead the way. We’re looking for curious, challenge-hungry minds to help shape the future.

Are you ready for an experience where you’ll be challenged, developed and supported? Join us.

Cynthia | AXA Graduate

No. of employeesc. 1,000

No. of qualified actuaries30

No. of trainees30

Opportunities available4 GRADUATE JOBS

No. of graduate jobsc. 3 per year

Disciplines recruited fromAll degree disciplines

Offices recruited into

About usFounded in 1847, Canada Life is a wholly owned subsidiary of Great-West Lifeco Inc, one of the largest Canadian life and health insurance companies. Canada Life began operations in the United Kingdom in 1903 and looks after the retirement, investment and protection needs of individuals and companies. Our UK operations are headquartered in Potters Bar, 15 minutes from central London by train.

Benefits of working at Canada LifeCanada Life offer the advantage of working in a professional, fast moving, financially strong company, yet with a better work/life balance than you would usually find in London. We offer excellent starting salaries and great opportunities for career progression.

A competitive study package is available to all our actuarial trainees, which includes study days, tutorials, course materials and entry fees for the first sitting of each exam. Every new starter is assigned a mentor to oversee their progress. Canada Life has a strong culture of success in the actuarial examinations, and provides an environment for new actuaries to study and develop.

Who are we looking for?Applicants will have at least three A Levels (or equivalent) and a degree (2:1 or better), ideally in mathematics or another numerate subject, although exceptional candidates with other degrees will be considered. We are looking for excellent communicators with strong problem solving skills. Successful candidates will be motivated to maintain our strong record in the challenging professional examinations.

The roleOur actuarial trainees have the opportunity to work in a variety of roles in areas including: reserving, financial reporting, pricing, risk management, investments and systems. We expect that trainees will work in at least two or three different areas before qualification, which means our newly qualified actuaries tend to have a valuable breadth of experience.

For application deadlines, the latest jobs and events visit:

www.insidecareers.co.uk

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56 Insurance | www.insidecareers.co.uk/ins 57Insurance | www.insidecareers.co.uk/ins

GRADUATE JOBS | INTERNSHIPS & PLACEMENTS | ADVICEwww.insidecareers.co.uk

Find your dream Insurance role online today.

100s Jobs EMPLOYER PROFILES

No. of employees3,644

No. of trainees10+

Opportunities available4 GRADUATE JOBS4 SCHOOL LEAVER SCHEMES

No. of graduate jobs10+

No. of undergraduate opportunitiestbc

Disciplines recruited fromIT, Business, Customer Service, Marketing, HR and Finance

Offices recruited intoNationwide

From humble roots, we’ve grown to become one of the UK’s largest general insurance and financial services organisations. Our ethos – of trust and respect – lies at the heart of everything we do, and has seen us build an enviable reputation for exceptional service.

With roots dating back to 1910, we’ve gained a deep understanding of the needs of those living in rural communities. Our client base today is very diverse and our services and bespoke insurance solutions extend to the wider market, including High Net Worth clients.

Ambitious about the future, we’re keen to find and develop great individuals who will help to lead us forward. Which is exactly where our Professional Trainee Scheme comes in. Joining the scheme, you’ll be empowered to own and grow your career, with the support and opportunities you need to thrive.

What is the Professional Trainee Scheme?In short, it’s an investment in you and your career. Joining one of our business areas, you’ll gain a rewarding balance of on the job learning, hands-on experience and professional qualifications through an insightful training programme.

Over the length of your scheme, you’ll take on a number of different placements and we’ll get you involved in high profile, live business projects with senior leaders. You’ll be supported at every step of your journey and we’ll sponsor you to complete professional qualifications too, helping you sharpen up the skills you need to progress.

We have a range of Professional Trainee Scheme paths – from customer service and marketing, to regional sales and corporate business – available within our different business areas, to suit your ambitions and interests.

Every year, we look forward to taking on new trainees and watching them develop into integral parts of our organisation. If you’d like to build a career on solid foundations, look no further.

For application deadlines, the latest jobs and events visit:

www.insidecareers.co.uk

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EMPLOYER PROFILESEMPLOYER PROFILES

58 Insurance | www.insidecareers.co.uk/ins 59Insurance | www.insidecareers.co.uk/ins

No. of employeesc. 13,500

Opportunities available4 GRADUATE JOBS4 INTERNSHIPS4 PLACEMENTS4 SCHOOL LEAVER SCHEMES

No. of graduate jobs4

No. of undergraduate opportunities20 (including apprenticeships)

Disciplines recruited fromAny degree discipline

Offices recruited intoLondon, Horsham and Liverpool

For application deadlines, the latest jobs and events visit:

www.insidecareers.co.uk

RSA is a leading international general insurer operating in three core regions: UK and Ireland, Canada and Scandinavia but with the capability to write business across the globe.

Founded in 1710, we are one of the world’s longest standing general insurers and have been protecting customers from risk and uncertainty for more than 305 years.

We have around 13,500 employees across our core businesses and, in 2015, our net written premiums were £6.8 billion.

The best way to gain a place on our graduate programme is to first apply for an internship with us in the summer of your penultimate undergraduate year.

Top performing summer interns are best placed to gain a position on the following year’s graduate programme.

Having studied Mathematics and Statistics at university, I was keen to understand how I could use the analytical skills I had developed in an insurance field. Carrying out an internship with RSA gave me great exposure to this. It was a great way to get real-life work experience, whilst also making connections within the industry. In particular, I found receiving advice from current actuarial graduates very useful. The internship provided me with a great platform of business skills to build upon in the future.

What was the application process like? Any advice? Firstly, I completed an online application form, predominantly consisting of questions about my interest in the role and company and details of my qualifications to date. Following this, I completed some online-based assessments and a competency-based telephone interview. The final stage was an assessment centre, consisting of an interview, group activity and case study. It was also a fantastic opportunity to network with like-minded graduates. My advice would be to think about how your capabilities fit with the role you are applying for; think of some examples which best illustrate your assets. Most importantly, try your best to stay calm.

What attracted you to your role? One of the driving factors was the opportunity

to develop my technical and softer skills whilst working in a diverse organisation. RSA has many different lines of business allowing me to expand my wider insurance knowledge. For example, RSA provided opportunities to understand more about the reserving and case pricing teams.

What were your main duties? Throughout my internship, I was based in the SME commercial pricing team, which consisted of motor and property lines of business; this provided me with insight into different insurance sectors. I was able to develop my technical skills by learning new computer software, which was extremely valuable in my final year of university and graduate role. During my internship, I supported the pricing team by setting up rating specifications, automating the importation of data and carrying out some analysis into renewals.

What were the most important things you learned? One of the key things I noted was the importance of communication and networking within the workplace. The people I worked alongside had a lot of useful knowledge and experience, which they were more than willing to share. Working in a fast-paced office environment was also highly beneficial.

TRAINEE PROFILENAMELOCATIONUNIVERSITYDEGREEROLE

NatalieHorshamNewcastleMathematics and StatisticsActuarial Summer Intern

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EMPLOYER PROFILES

60 Insurance | www.insidecareers.co.uk/ins 61Insurance | www.insidecareers.co.uk/ins

No. of employees40,000

No. of trainees410

Opportunities available4 GRADUATE JOBS4 INTERNSHIPS4 INSIGHTS4 SCHOOL LEAVER SCHEMES

No. of graduate jobs100+

No. of undergraduate opportunities80+

Disciplines recruited fromAll degree disciplines considered

Offices recruited into

For application deadlines, the latest jobs and events visit:

www.insidecareers.co.uk

You’ve nearly completed your degree, and you’re ready for what’s next: a job that will inspire you, make you think, and put your skills to the best use. Consider a career with Willis Towers Watson – and unlock your potential!

What will I be doing day to day?Our business is largely project based, so no two days are likely to be the same. As an intern or new graduate, you’ll work on project teams with more experienced colleagues to gain proficiency and learn our approach and methodology for client work.

Whether you join us in Corporate Risk and Broking, Human Capital and Benefits, Investment, Risk and Reinsurance and Software Solutions you’ll benefit from a comprehensive training and development programme. You will be in charge of your own career, working with your manager to decide what’s next and how to get there.

What do you offer new graduates?You’ll learn on the job by working on a variety of complex and interesting assignments. You’ll team with a broad network of colleagues – often across borders and timelines – to provide innovative solutions to the leading organisations that are our clients.

Our clients recognise the need for, and actively seek, the best ideas from the brightest minds in business, giving our consultants challenges and opportunities that are difficult to find anywhere else.

Willis Towers Watson is large enough to offer you the breadth of work to choose your own path, yet small enough to allow you to have an impact on our clients’ success – and ours.

Top four reasons to join us• Fully funded study• Opportunities for involvement in client work,

starting on day one• Collaborative working environment with

recognised thought leaders• A global company with a stellar reputation.

Sound interesting?If this sounds exciting to you, the visit our website formore information and to apply.

Together, we unlock potential.

willistowerswatson.com

Willis Towers Watson is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. Our clients recognise the need for, and actively seek, the best ideas from the brightest minds in business, giving our consultants and brokers challenges and opportunities that are difficult to find anywhere else.

Willis Towers Watson is large enough to offer you the breadth of work to choose your own path, yet focused so you can make an impact on our clients’ success – and ours.

Learn more at careers.willistowerswatson.com/students-and-graduates.

Connect with Willis Towers Watson

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EMPLOYER PROFILES

62 Insurance | www.insidecareers.co.uk/ins

No. of employees60,000

Opportunities available4 GRADUATE JOBS4 PLACEMENTS

No. of graduate jobs40

No. of undergraduate opportunities25

Disciplines recruited fromActuarial, Finance, Technology, Business Change, Management

Offices recruited intoLondon, Birmingham, Fareham, Cheltenham and Farnborough

For application deadlines, the latest jobs and events visit:

www.insidecareers.co.uk

Looking for an exciting career? Thinking about insurance? It’s a fast-paced environment, where you’ll be thinking on your feet and finding ways to protect the things people love.

Forget any preconceptions you have about the insurance industry and graduate programmes. A graduate role with Zurich gives you a real job, with real responsibility from day one. You’ll also enjoy all the training, support and opportunities you need to put you well on your way to a successful career with us.

We have a real focus on our people and culture, and a desire to make a difference to our customers and the communities in which we work.

This is a diverse workplace with a number of employee network groups. It’s this commitment to a supportive and approachable culture that’s seen us named one of The Sunday Times ‘Best Big Companies to Work For’.

Why Zurich Zurich was once again named in The Sunday Times ‘25 Best Big Companies to Work For’ in 2015. We are one of the world’s largest insurance groups, and one of the few to operate on a truly global basis. Our mission is to help our customers understand and protect themselves from risk.

With over 60,000 employees serving customers in more than 170 countries, we aspire to become the best global insurer as measured by our shareholders, customers and employees.

The Complete Finance RangeThe Complete

GRADUATE JOBS | INTERNSHIPS & PLACEMENTS | ADVICEwww.insidecareers.co.uk

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NOTES

Publisher: Cambridge Market Intelligence Ltd, Thornton House, Thornton Road, Wimbledon, SW19 4NG. T: 0208 405 6412 | www.insidecareers.co.uk Editorial: Emma BraithwaiteAssociate Publisher: The Chartered Insurance Institute, 42-48 High Road, South Woodford, London, E18 2JPT: 020 8989 8464 | www.cii.co.ukAcknowledgments: We are indebted to the CII for their support, in particular to Caspar Bartington for his help throughout the preparation of the guide and for reviewing the text for balance and accuracy.

ISBN 978-1-911394-02-0Printed and bound in the UK by Cambrian Printers, Aberystwyth Pages 18-20: Reunion icon made by Vectors Market from www.flaticon.com; Deal icon made by Icon Pond from www.flaticon.com; Chatting, Bars chart and Invention icons made by Freepik from www.flaticon.com. Coin icon made by Madebyoliver from www.flaticon.com.

Copyright in individual articles © 2017 the authors, who have asserted their right to be identified as the author under s.7 of the Copyright, Designs and Patents Act 1988. The compilation © 2017 Cambridge Market Intelligence Ltd. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior permission of the copyright owner. While every effort has been made to ensure its accuracy, no responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by the publisher or authors.

Page 37: THE ONLY GRADUATE CAREER GUIDE TO Insurance · COMMERCIAL INSURANCE Commercial insurance lets business owners run their company after unexpected events like natural disasters or cyber

Together, we unlock potential.

willistowerswatson.com

Willis Towers Watson is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. Our clients recognise the need for, and actively seek, the best ideas from the brightest minds in business, giving our consultants and brokers challenges and opportunities that are difficult to find anywhere else.

Willis Towers Watson is large enough to offer you the breadth of work to choose your own path, yet focused so you can make an impact on our clients’ success – and ours.

Learn more at careers.willistowerswatson.com/students-and-graduates.

Connect with Willis Towers Watson

Page 38: THE ONLY GRADUATE CAREER GUIDE TO Insurance · COMMERCIAL INSURANCE Commercial insurance lets business owners run their company after unexpected events like natural disasters or cyber

Risk. Reinsurance. Human Resources.

At Aon, we draw on the expertise of over 66,000 people to help the biggest names in business plan for every eventuality.

Our size, global network and emphasis on innovation mean where we lead, the industry follows.

We have apprenticeship, intern and graduate opportunities so if you’re looking for a way to kick-start your career don’t leave it to chance. Visit aonearlycareers.co.uk to find out more.

At Aon, we draw on the expertise of over 66,000 people to help the biggest names in business plan for every eventuality.

Our size, global network and emphasis on innovation mean where we lead,

We have apprenticeship, intern and graduate opportunities so if you’re looking for a way to kick-start your career don’t leave it to chance.

aonearlycareers.co.uk to find out more.

Opportunities available in:

Actuarial Consulting – Pensions

Actuarial Consulting – General Insurance

Investment Consulting

Insurance, Reinsurance and Risk Management

Health & Benefits Broking and Consulting

Global Risk Consulting – Captive Solutions

Human Capital Consulting

KICK-STARTCAREER

Let’s

your

Few things are certain in life. Economic upheaval, political crises, natural disasters – and plenty more besides – all mean the world can be full of surprises.

Aon UK Limited is authorised and regulated by the Financial Conduct Authority.

326184_AON_Advert_148x210mm_A5_2015_v1.indd 1 24/08/2015 16:34